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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (37218)	4/17/2011 11:33:49 AM
From: John	Respond to of 71475

I enjoy reading Jesse's work and agree with many of his ideas. However, I do not share his faith in the U.S. central bank's ability to arbitrarily impose its will on the world and ultimately control changes to the relative value of the U.S. dollar. Influence change? Yes, to a degree. Control change? No. To believe that the Federal Reserve is powerful enough to prevent deflation or stave off significant inflation or hyperinflation is a reach. The fact of the matter is that defections from the dollar are materializing, which will adversely impact the value of the dollar and the standard of living in the United States. Regarding the Federal Reserve, it is a self-serving organization that does not have a desirable record for achieving good economic outcomes for the nation since the advent of TARP. It could also be successfully argued that the central bank's historical policies directly led to the 2008 economic collapse, along with the financial catastrophe and exploding debt crisis that ensued and are still escalating. Bottom line: The Federal Reserve's operations benefit a small, elite clique for whom it was originally designed to serve; not the nation. Those at the top usually benefit from a fraudulent Ponzi scheme, which is what the Fed's fiat currency strategy represents. Like Ron Paul, I would like to see the central bank disbanded and the gold standard reestablished. I think we've all had enough of the fiat currency sham.